Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Bedrooms

11

Building size

3,360 sqft

Lot size

7,009 sqft

Year built

2025

Stories

1

Garage spaces

0

Pool

None

Status

Active

Days on market

7

MLS #

247424015

About this property

NORTH PARK | SELLER FINANCING AVAILABLE. 2611 Adams Avenue is a fully renovated mixed-use income property along the highly desirable Adams Avenue Corridor. Offered at $4,495,000, the property features 10 furnished hotel suites currently operated by ownership plus a separately leased restaurant / hospitality component. Furnished suites have generated approximately $18,000/month in average historical income under current ownership. Seller is open to negotiating an approximately $15,000/month leaseback of the suite operations, with rent, term and other provisions negotiable. Restaurant is separately leased at $15,000/month under a long-term NN lease through August 2035 with 3% annual increases and additional percentage-rent potential. Fully renovated down to the studs in 2025. Prime North Park / Adams Avenue location. Approx. current 7.1% cap and $319K NOI based on current underwriting and owner-operated suite income.* Ideal 1031 exchange opportunity. Potential beer & wine license availability and owner-operator flexibility. Buyer to independently verify all financial, lease, licensing, use and property information.

Location

2611 Adams Avenue

North Park (San Diego), San Diego, CA, 92116